Thursday, 18 October 2012

Google's 3Q earnings leak

Google's stock is plunging after it released its third-quarter earnings report early, apparently by mistake.

The company's stock is down 9 per cent in afternoon trading, at USD 687.30. Google was set to report its results after the market closed.

In a regulatory filing, Google Inc says it earned USD 2.18 billion, or USD 6.53 per share, during the three months ending in September. That compared with net income of USD 2.73 billion, or USD 8.33 per share, last year.

The earnings would have been USD 9.03 per share, if not for Google's accounting costs for employee stock compensation and restructuring charges related to the acquisition of Motorola. Analysts polled by FactSet were expecting USD 10.63 per share.